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The Ewing Distribution Company is planning a $100 million expansion of its chain of discount service stations to several neighboring states. This expansion will be

The Ewing Distribution Company is planning a $100 million expansion of its chain of discount service stations to several neighboring states. This expansion will be financed, in part with debt issued with a coupon interest rate of 15 percent. The bonds have a 10-year maturity and a $1,000 face value and they will be sold to net Ewing $990 after issue costs. Ewing

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